THE CONDO BOOK PROJECT

78 Eagle Street Condominium

78 Eagle Street, Brooklyn, NY 11222

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Overview

Units
3 residential
Subway
7 min walk to Greenpoint Av GVernon Blvd-Jackson Av 7, 17 min
Developer
Investmates
Principals
Jakov Telyas
Average $/sf
$1,434Homes in Schedule A, as first offered
Common charges
$468–$637 a monthSponsor's first-year estimate in Schedule A, April 1, 2022 - March 31, 2023
Offering price
$7.35 million total $6.6 million when first offered

The sponsor of record is 78 Eagle St LLC, represented by Jeffrey Zwick & Associates, P.C.. The offering plan runs 314 pages. The sponsor has filed 2 amendments, the latest in June 2023. The nearest other condo plan on file is 84 Eagle Street Condominium, next door.

Plan CD210144 · New · accepted Mar 2, 2022 · AG record ↗

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FigureThis building184 Meserole23 units · 0.6 miaccepted 2022151 Newel34 units · 0.7 miaccepted 2022
Common ChargesPer Square Foot / Month$0.37In line$0.45$0.36
Average Offering PricePer Apartment$2.2MIn line$2.3M$1.87M
Average PricePer Square Foot$1,434Below peers$1,437$1,540
Property TaxesPer Square Foot / Month$0.26Lowest$0.80$0.74
Average Unit SizeSquare Feet1,535 SFIn line1,601 SF1,214 SF

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Unit mix, closings, budgets, finishes and the team, against 84 Meserole and 151 Newel, cited to the offering plans. No credit card required.

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How We Got This
  • Comps: the closest Brooklyn plans on size, $/SF and launch date, within 2 miles when possible.
  • Figures: each building's own offering plan, filed with the NY Attorney General. Nothing is estimated.
  • Checked: a price list publishes only when its math adds up, and building pages cite the plan pages.
  • Labels: In line is between the comps; Below/Above peers is past both by up to 15%; Lowest/Highest by more.

Closings Pro

Homes closed100% of the homes in Schedule A3 of 3
Closing prices vs. Schedule A3 homes: $7,141,900 at closing against $6,600,000 in Schedule A (p. 31)+8.2%
Average closing price3 homes, on their Schedule A square feet$1,551 / SF
Closingsfirst and latest recordedJun 9, 2022 – Jul 11, 2022

Sales recorded with the Department of Finance (ACRIS) through May 31, 2026: deeds, or transfer tax filings for a building on leased land, of $10,000 or more. A home's first sale since the plan was filed is the sponsor's closing; resales aren't counted. Closing prices are compared with the same home's Schedule A price, as first offered; a deed covering more than one home isn't compared. Amendments often change prices before a home closes, and a deed that includes parking or storage counts its full price. ACRIS records a sale weeks after closing, so recent contracts don't appear yet. Every building's sales.

All 3 closings
HomeRecordedClosing priceSchedule ADifference
1Jun 9, 2022$2,350,000$1,600,000 p. 31+46.9%
3Jun 28, 2022$2,370,000$2,500,000 p. 31−5.2%
2Jul 11, 2022$2,421,900$2,500,000 p. 31−3.1%

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Closings are for subscribers

Every home's recorded closing price against its Schedule A price, with the ACRIS document and the plan page.

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Budget

From our research: The Sponsor's Condo-Creation Fee in NYC · NYC Condo Insurance Costs Are Rising · Condo Supplies Cost per Unit, by Size

Team

Sponsor
78 Eagle St LLC
Developer
Investmates
Principals
Jakov Telyas
Tax estimate
Metropolitan Realty ExemptionsPrepared the first-year real estate tax projection

From our research: Do NYC Developers Rehire the Same Firms?

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